8th Jan 2021 13:46
Malvern International PLC - London-based learning and skills development company - Enters into a new short-term loan agreement for GBP350,000 with capital investor Boost & Co Ltd in London and secures GBP30,000 via an unsecured loan note with Chief Executive Richard Mace. Says the purpose of the loan agreement and loan note is to provide bridging finance to ensure it has sufficient working capital pending the payment of GBP900,000 to a "significant" trade debtor in its first quarter of 2021. Notes the loan facility will be drawn immediately and interest will be charged at 11% per annum and the loan note has an interest rate of 5.0% per annum. Both are due to be repaid on April 30.
Current stock price: 0.19 pence
Year-to-date change: up 21%
By Zoe Wickens; [email protected]
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